Banks

The payments bank said the new facility would help business correspondents (BCs) of the bank to open an account just by undertaking face authentication through electronic know-your-customers (e-KYC).

Operations of public sector banks (PSBs) may be impacted as bank union AIBEA has given a strike call for Saturday to oppose incessant outsourcing of jobs. Although the officers are not part of the strike, there may be some impact on cash deposit and withdrawal, clearing of cheques etc.

Those banks are The Berhampur Cooperative Urban Bank, The Kendrapara Urban Co-operative Bank , The Jamshedpur Urban Cooperative Bank, Krishna Mercantile Co-operative Bank , Renuka Nagarik Sahakari Bank Maryadit, Jila Sahakari Kendriya Bank Maryadit, Osmanabad Janata Sahakari Bank, The Santrampur Urban Co-operative Bank, and The Nawanagar Co-operative Bank.

Public sector banks’ strong performance in Q2 has resulted in earnings and target price upgrades from analysts. Overall, PSU banks delivered a cumulative net profit of 25,685 crore in Q2, winning accolades from Finance Minister Nirmala Sitharaman. However, analysts remain watchful in the medium term as competition among banks to attract deposits is on the rise.

Finance Minister Nirmala Sitharaman on Monday lauded all 12 public sector banks for recording combined net profits worth Rs 25,685 crore in the second quarter of the current fiscal.

With the proliferation of internet enabled devices among the public, banks have invested in sophisticated technology to support net banking and remot...

Banking services across the nation will get affected on November 19, with members of the All India Bank Employees' Associati...

The International Monetary Fund (IMF) on Tuesday praised the Reserve bank of India (RBI) for tightening the monetary policy ...

A Mumbai-based firm has been booked by the special crime branch unit of CBI in Lucknow, for defrauding Union Bank of India o...

"The bank does not have adequate capital and earning prospects," the RBI said. It also stated that the bank's current financial situation would prevent it from paying its current depositors in full. The Seva Vikas Co-operative Bank is prohibited from conducting banking business, which includes, among other things, accepting deposits and repaying deposits, with immediate impact, according to the RBI.

The Supreme Court constituted a committee to find ways to reduce cheque bounce cases. The government received suggestions that include debiting other accounts of the cheque issuer to recover money. Another suggestion says that the offender could also be prevented from opening other accounts. Cheque bouncing could soon invite harsher punishments like debiting money from other accounts held by the issuer — if the government acts on the many suggestions it received to curtail this practice.

The government on Friday invited bids from investors for privatising IDBI Bank by selling a total of 60.72 per cent stake in the bank. The last date for submission of bids or Expression of Interest (EoI) is December 16.

The Reserve Bank on Friday said it will soon commence the pilot launch of e-rupee for specific use cases with a view to bolstering India's digital economy, making payment systems more efficient, and checking money laundering.

The Indian banking sector is expected to report strong growth in net interest income, margins and loans in Q2 FY23. Brokerages suggest that multiple rate hikes, which were quickly passed on to customers, will be a key growth driver. Deposits remain an area of concern, as weaker household savings and banks being slower in passing on rate hikes have resulted in a slowdown.

Bank of Baroda today announced the rollout of digital loans through the Account Aggregator framework. But what exactly is the Account Aggregator framework? Here’s a simple explainer to help you understand. Bank of Baroda today announced the rollout of digital loans through the RBI-regulated Account Aggregator framework, joining the likes of SBI, ICICI Bank, HDFC Bank, and Axis Bank, among others.

Credit Suisse, one of the largest and oldest banks of the world, is in trouble after the sharp rise in its credit default swaps. Loss of talent, bad risk management and loss of investor confidence have sent the bank’s stock into a spiral. Market experts believe a 2008-like situation is possible if the bank sinks like Lehman Brothers did.

The Monetary Policy Committee (MPC) of Reserve Bank of India (RBI) is expected to hike the repo rate by another 35 basis poi...

October is a month of festivals – which means several bank holidays. Too many of these can be an inconvenience for serious business dealings. Busines...

The State Bank of India (SBI) has been authorised to issue and encash electoral bonds through its 29 branches between October 1-10. This would be the 22nd phase of sale of electoral bonds, according to a statement issued by the Union Finance Ministry on Thursday. The government had notified the Electoral Bond Scheme 2018 on January 2, 2018. A person being an individual can buy electoral bonds, either singly or jointly with other individuals.

2022 has been a year of central banks around the world announcing interest rate hikes to control inflation....

The State Bank of India (SBI) has planned to raise up to Rs 4,000 crore, which includes Rs 2,000 crore in greenshoe through Basel-III Tier-II bonds m...

Protesting against the vindictive transfers, employees of listed Central Bank of India began their two-day strike on Monday,...